Going To Bat Once More: BATS Global Markets Makes Another Attempt At IPO

According to its SEC filing, Bats considers its proprietary platforms to now be reliable. The company noted that the platforms have "very low operational downtime, as demonstrated by the fact that for the years ended December 31, 2015 and 2014, all of our global markets were immediately and automatically accessible (i.e., fully operational) 99.994% and 99.991% of the time, respectively."

In addition, Bats noted that for 2015, five of their eight global platforms performed at 100 percent for the entire year. The company believes that its customers now trust its platforms to minimize trade execution risk, especially during high market volatility.

Executive Management Highlights

CEO, President and Director Christopher Concannon has served in his positions since December 2014. His previous experience includes senior positions at NASDAQ QMX Futures Exchange, Virtu Financial, NASDAQ OMX Group, Instinet Group, and Morgan, Lewis & Bockius LLP. Mr. Concannon received a B.A. Degree from The Catholic University of America in 1989, an M.B.A. from St. John's University and a J.D. from the Columbus School of Law at the Catholic University of America.

CFO, EVP and Treasurer Brian Schell has served in his position since March 2011. His previous experience includes financial position at H&R Block Financial Advisors, Pollen Inc., JP Morgan, KPMG Peat Marwick and the Federal Deposit Insurance Corporation. Mr. Schell graduated from the University of Notre Dame with a bachelor's degree in business administration He also holds a master's degree in business administration from The George Washington University.

Potential Competition: NASDAQ OMX Group and London Stock Exchange Group

Bats Global Markets faces competition from three primary sources: NASDAQ OMX Group, the London Stock Exchange Group and NYSE Euronext Holdings.

Valuation: Strong And Growing Revenues, Income

Bats Global Markets provided the following figures from its financial documents for the nine months ended September 30:

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Disclosure:  I/we have no positions in any stocks mentioned, but may initiate a long position in BATS over the next 72 hours.


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